Piper Discussing Incentives Payments with State of Florida

Piper Aircraft is facing repayment requests of government incentives received in 2008 to help the company upgrade its Vero Beach, Fla., facilities to modern hurricane standards and buy tools and equipment. Piper received $10.667 million from Indian River County and the state of Florida to keep its headquarters in Vero Beach and build a manufacturing plant for the recently canceled single-engine PiperJet. According to a company spokeswoman, “Piper is currently working with the State of Florida regarding the incentive package and the payment that was received in 2008.”